Was AIG's Fall Criminal?
CBS News is reporting that a Justice Department criminal investigation is trying to figure out just how AIG crumbled. Sources say investigators are digging into whether Joseph Cassano, the former head of London-based AIG Financial Products, and two of his top deputies -- Andrew Forster, an executive vice president, and Thomas Athan, a managing director -- committed securities fraud and other federal crimes.
Extreme Makeover: Broker Workstation Edition
A quest for increased adviser productivity and a forthcoming cost-basis reporting law are driving wealth management technology integrations and upgrades at Canada's largest brokerage, RBC Dominion Securities, and U.S. advisory firm Silver Bridge as well as others.
As buy-side trading desks are challenged to navigate increasingly complex markets, algorithm providers are responding with streamlined offerings and liquidity-seeking strategies.
Orc Delivers Trading Solutions to Russian Firm
Maxwell Capital will deploy Orc Trader to provide links to the leading domestic markets: the Russian Trading System (RTS) / FORTS and the Moscow Interbank Currency Exchange (MICEX), as well as to international markets.
Investors Await Bank Stress Tests
Crucial regional banks are expected to fail the Fed's "stress tests," reports CBS News' Priya David and investors are waiting for more details that will be release later today.
BIDS Chief Mahoney Says Fragmentation Distorts Volume and Volatility
Today it's harder to rely on share volume as a stock-market indicator than it used to be, says Tim Mahoney, chief executive of BIDS Trading. Mahoney says we are witnessing a transformation in the marketplace as "the role of the market maker has moved from a person to a computer."
Geithner Under Fire on Capitol Hill Today
A critical watchdog report out this morning on the Troubled Asset Relief Program (TARP) says Tim Geithner's Treasury Department needs to do a better job of tracking how banks are using TARP money.